Exhibit 12

Nationwide Financial Services, Inc. and Subsidiaries

Statement Regarding Computation of Earnings
to Fixed Charges

(in millions)



|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|------------------------------------------------------------------------------------------------ |  | ----------------------- | ------- | ---- | - | ------- |  | ---- | ------- | ---- | - | ------- |  | - | -------
|                                                                                                 |  | Years ended December 31
|                                                                                                 |  | 2006                    |         | 2005 |   | 2004    |  | 2003 |         | 2002
|Earnings:                                                                                        |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Income from continuing operations before federal income tax expense                              |  | $                       | 778.9   |      | $ | 756.1   |  | $    | 675.1   |      | $ | 519.5   |  | $ | 140.7  
|Fixed charges                                                                                    |  |                         | 1,484.0 |      |   | 1,510.6 |  |      | 1,430.7 |      |   | 1,463.4 |  |   | 1,337.4
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|                                                                                                 |  | $                       | 2,262.9 |      | $ | 2,266.7 |  | $    | 2,105.8 |      | $ | 1,982.9 |  | $ | 1,478.1
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Fixed Charges:                                                                                   |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Interest credited to policyholder account balances                                               |  | $                       | 1,380.3 |      | $ | 1,380.9 |  | $    | 1,328.3 |      | $ | 1,367.6 |  | $ | 1,260.7
|Interest on debt                                                                                 |  |                         | 103.7   |      |   | 108.0   |  |      | 102.4   |      |   | 95.8    |  |   | 76.7   
|Debt extinguishment costs                                                                        |  |                         |        |      |   | 21.7    |  |      |        |      |   |        |  |   |       
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|                                                                                                 |  | $                       | 1,484.0 |      | $ | 1,510.6 |  | $    | 1,430.7 |      | $ | 1,463.4 |  | $ | 1,337.4
|                                                                                                 |  |                         |         |      |   |         |  |      |         |      |   |         |  |   |        
|Ratio of earnings to fixed charges                                                               |  |                         | 1.5     |      |   | 1.5     |  |      | 1.5     |      |   | 1.4     |  |   | 1.1    
|                                                                                                 |  |                         |         |      |  
|Ratio of earnings to fixed charges, excluding interest credited to policyholder account balances |  |                         | 8.5     |      |   | 6.8     |  |      | 7.6     |      |   | 6.4     |  |   | 2.8